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  1. The impact of the euro area economy and banks on biodiversity
    Author: Ceglar, Andrej; Boldrini, Simone; Lelli, Chiara; Parisi, Laura; Heemskerk, Irene
    Published: [2023]
    Publisher:  European Central Bank, Frankfurt am Main, Germany

    Biodiversity - the variety of life on Earth - is essential for sustaining the healthy ecosystems that our economy and banks depend on. Despite the clear benefits of a healthy natural world for people and the economy, humanity is putting immense... more

    Access:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Potsdamer Straße
    Inter-library loan:
    No inter-library loan

    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 535
    Inter-library loan:
    No inter-library loan

     

    Biodiversity - the variety of life on Earth - is essential for sustaining the healthy ecosystems that our economy and banks depend on. Despite the clear benefits of a healthy natural world for people and the economy, humanity is putting immense pressure on nature and biodiversity. Economic activities that rely on healthy nature are often responsible for generating environmental pressures. It is important to assess the impact that firms and financial institutions have on nature degradation, in order to reveal their exposure to transition risk and highlight the need to move towards an economic system that values nature, rather than putting it at risk. This study analyses the contribution of euro area economic activities - and the bank loans provided to enable them - to biodiversity loss by estimating biodiversity footprints. The datasets we use account for approximately €4.3 trillion in corporate loans to around 4.2 million companies located in the euro area, issued by more than 2,500 unique consolidated euro area banks. Considering two primary drivers of biodiversity loss (land-use change and climate change), the results show that the economy has had a significant impact on biodiversity, equivalent to the loss of 582 million hectares of "pristine" natural areas worldwide. Even though the impact on biodiversity is highest in Europe, the supply chains of companies are important determinants of their indirect biodiversity footprint worldwide. Asia and Africa have the largest areas impacted by activities that take place in company supply chains. Additionally, financing of economic activities with a high global impact on nature is concentrated: the ten banks with the highest financing share are responsible for financing around 40% of the total global impact of euro area firms. To avoid risk underestimation, this study highlights the importance of considering both climate change and nature loss when developing risk assessment frameworks, because they are inextricably intertwined.

     
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    Source: Staatsbibliothek zu Berlin
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789289962346
    Other identifier:
    hdl: 10419/283470
    Series: Occasional paper series / European Central Bank ; No 335
    Subjects: biodiversity loss; nature degradation; input-output table; materialityscore; impact; climate-nature nexus; economy; euro area; bank; biodiversity; degradation of the environment; economic consequence; economic activity; carbon neutrality
    Scope: 1 Online-Ressource (circa 36 Seiten), Illustrationen
  2. The impact of the euro area economy and banks on biodiversity
    Author: Ceglar, Andrej; Boldrini, Simone; Lelli, Chiara; Parisi, Laura; Heemskerk, Irene
    Published: [2023]
    Publisher:  European Central Bank, Frankfurt am Main, Germany

    Biodiversity - the variety of life on Earth - is essential for sustaining the healthy ecosystems that our economy and banks depend on. Despite the clear benefits of a healthy natural world for people and the economy, humanity is putting immense... more

    Access:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Unter den Linden
    Inter-library loan:
    Unlimited inter-library loan, copies and loan

     

    Biodiversity - the variety of life on Earth - is essential for sustaining the healthy ecosystems that our economy and banks depend on. Despite the clear benefits of a healthy natural world for people and the economy, humanity is putting immense pressure on nature and biodiversity. Economic activities that rely on healthy nature are often responsible for generating environmental pressures. It is important to assess the impact that firms and financial institutions have on nature degradation, in order to reveal their exposure to transition risk and highlight the need to move towards an economic system that values nature, rather than putting it at risk. This study analyses the contribution of euro area economic activities - and the bank loans provided to enable them - to biodiversity loss by estimating biodiversity footprints. The datasets we use account for approximately €4.3 trillion in corporate loans to around 4.2 million companies located in the euro area, issued by more than 2,500 unique consolidated euro area banks. Considering two primary drivers of biodiversity loss (land-use change and climate change), the results show that the economy has had a significant impact on biodiversity, equivalent to the loss of 582 million hectares of "pristine" natural areas worldwide. Even though the impact on biodiversity is highest in Europe, the supply chains of companies are important determinants of their indirect biodiversity footprint worldwide. Asia and Africa have the largest areas impacted by activities that take place in company supply chains. Additionally, financing of economic activities with a high global impact on nature is concentrated: the ten banks with the highest financing share are responsible for financing around 40% of the total global impact of euro area firms. To avoid risk underestimation, this study highlights the importance of considering both climate change and nature loss when developing risk assessment frameworks, because they are inextricably intertwined.

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Staatsbibliothek zu Berlin
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789289962346
    Other identifier:
    hdl: 10419/283470
    Series: Occasional paper series / European Central Bank ; No 335
    Subjects: biodiversity loss; nature degradation; input-output table; materialityscore; impact; climate-nature nexus; economy; euro area; bank; biodiversity; degradation of the environment; economic consequence; economic activity; carbon neutrality
    Scope: 1 Online-Ressource (circa 36 Seiten), Illustrationen